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Starting a Small Business in Connecticut

Welcome to the Small Business Startup Connecticut Franchise Directory! Here, you'll find everything you need to begin your journey to business ownership in the Constitution State. If you're considering starting a small business in Connecticut, read on for an overview of the state economy. Afterward, explore business opportunities and franchises for sale with our Connecticut Franchise Search Tool.

Connecticut Industry Trends

If an industry is performing well, business opportunities within it are often worth exploring. Begin your market research with this list of the Connecticut economy's most prominent industries in 2022. Afterward, take your research one step further by investigating niche markets and B2B opportunities within one of these top revenue-generating industries.

Health & Medical Insurance (Revenue: $81.6 billion)
Life Insurance & Annuities (Revenue: $68.4 billion)
Aircraft, Engine & Parts Manufacturing (Revenue: $52.7 billion)
Drug, Cosmetic & Toiletry Wholesaling (Revenue: $50.2 billion)
Property, Casualty & Direct Insurance (Revenue: $25.8 billion)
Public Schools (Revenue: $19.0 billion)
Colleges & Universities (Revenue: $18.0 billion)
E-commerce & Online Auctions (Revenue: $15.4 billion)
Portfolio Management (Revenue: $14.7 billion)
New Car Dealers (Revenue: $14.3 billion)

Connecticut Sector Statistics

When starting a small business in Connecticut, gross domestic product (GDP) is another tool entrepreneurs can use to make investment decisions. Generally, a steadily rising GDP means that people are spending more money and creating more jobs.

The three sectors that contributed most to Connecticut's GDP in 2022 were Finance & Insurance; Real Estate, Rentals & Leasing; and Manufacturing. Combined, these three sectors represented 41.6% of the state's GDP. In 2022, the sectors that contributed most to Connecticut's GDP included:

Finance & Insurance (Value: $34.7 billion* | Annual growth: 0.5%)
Real Estate, Rentals & Leasing (Value: $32.1 billion* | Annual growth: -0.3%)
Manufacturing (Value: $27.4 billion* | Annual growth: -0.6%)
Healthcare and Social Assistance (Value: $21.1 billion* | Annual growth: 1.8%)
Information (Value: $20.7 billion* | Annual growth: 6.6%)
Professional, Scientific & Technical Services (Value: $19.5 billion* | Annual growth: 3.4%)
Wholesale Trade (Value: $13.5 billion* | Annual growth: 2.0%)
Retail Trade (Value: $13.2 billion* | Annual growth: 0.3%)
Administration, Business Support & Waste Management Services (Value: $7.4 billion* | Annual growth: 5.5%)
Management of Companies & Enterprises (Value: $6.9 billion* | Annual growth: -0.2%)
Construction (Value: $5.7 billion* | Annual growth: 0.8%)
Accommodation & Food Services (Value: $5.4 billion* | Annual growth: 5.4%)
Educational Services (Value: $5.1 billion* | Annual growth: -1.5%)
Transportation & Warehousing (Value: $4.4 billion* | Annual growth: -0.1%)
Other Services (except Public Administration (Value: $3.7 billion* | Annual growth: -2.2%)

*Approximately

Connecticut Population Statistics

A growing population often means greater demand and a steady flow of new customers. If you are undecided about the location of your new business, start by investigating population statistics. Afterward, take your research a step further by exploring population demographics. Doing so lets you decide whether a location is a good match for your target market.

In 2022, counties with the highest populations in Connecticut included:

Fairfield (Population: 940,100 | Annual growth rate*: -0.1%)
Hartford (Population: 886,000 | Annual growth rate*: -0.2%)
New Haven (Population: 848,100 | Annual growth rate*: -0.2%)
New London (Population: 263,200 | Annual growth rate*: -0.3%)
Litchfield (Population: 178,100 | Annual growth rate*: -0.4%)
Middlesex (Population: 160,400 | Annual growth rate*: -0.4%)
Tolland (Population: 150,200 | Annual growth rate*: -0.1%)
Windham (Population: 116,200 | Annual growth rate*: -0.1%)

*From 2017 to 2022.

Connecticut Business Opportunities

We hope this snapshot of the Connecticut economy helps as you investigate business opportunities in the Constitution State! Starting a small business in Connecticut is an exciting journey, and we know you're probably eager to get started. But remember, take your time to explore all your options. While you'll always have the "opportunity" to start your own business, sometimes, it makes more sense to invest in an opportunity that already exists. These are called "Franchise Opportunities," and they offer several benefits, including the recognition of a well-established brand and a proven track record of success.

To learn more, start by exploring franchise opportunities in Connecticut below!

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Lawn Pride

Lawn Pride, a Neighborly company, is a rapidly growing lawn care services franchise. With us, your path to business ownership can experience greener pastures

$50,000 Min Cash Required

Ace Handyman Services

Since being acquired by Ace Hardware in September of 2019, we are pairing our deep experience in this booming industry with a recognizable home brand name. Now is the time to get in on the ground floor of this growing franchise opportunity and utilize your prior business experience with our own methods. We are offering a reasonable cost of entry in a segment that is booming, and is not just a fashionable trend, but a strong consumer need as essential as utilities for a home. With the DIY (Do It Yourself) market declining and the DIFM (Do It For Me) market increasing, now is the time to join a recognizable home brand in this 400 Billion Dollar industry. We have been tasked with bringing helpful handyman services to all of the Ace Hardware customers homes.

$70,000 Min Cash Required

ATAX

With our proven system, your franchise business can run smoothly and efficiently while achieving consistent, measurable, growth. Decades of documented franchise and business success have enabled us to develop a business system that drives customer loyalty, repeat business, and financial stability. Get best-in-class ongoing support from our team to run and manage your franchise business. We provide end-to-end franchise solutions from getting started to licensing assistance.

$35,000 Min Cash Required

Salty Dawg Pet Salon + Bakery

Rethinking Pet Grooming Join the Pack with Salty Dawg Pet Salon + Bakerys Amazing Opportunity Pet grooming has nearly doubled over the past decade. Rising pet ownership has driven the demand for pet grooming, boarding, training, and walking to an all-time high. Salty Dawg is seeking owners with an entrepreneurial spirit as well as sales, marketing, and/or retail experience. Inquire now to learn more and become an owner yourself

$100,000 Min Cash Required

My Business Venture

My Business Venture gives you the ability to start an online business from your home. We provide you access up to 1 million products & you chose up to 2,500 you want to feature on your website MBVs 10 Price Guarantee on all items on your website ensures you will always be profitable & NEVER be undersold Includes enrollment in MBV University training program.

$10,000 Min Cash Required

CartCapital - Subscription Based E-Commerce Store

Did you know you could partner with a company to build out your entire e-commerce store, from product research to inventory acquisition to marketing? Yep You can easily make 6-7 figures in passive income when we build your e-commerce empire and money-making machine from the ground up All it takes is an upfront investment, and our team will do the rest. By this time next year, you could be sitting on a 7 figure empire. Request more information now

Starting a Small Business in Connecticut